Louisiana State Employees Retirement System Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

Louisiana State Employees Retirement System lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,500 shares of the software maker’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Intuit were worth $3,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. West Oak Capital LLC purchased a new position in Intuit in the third quarter valued at $27,000. Manchester Financial Inc. acquired a new stake in shares of Intuit in the second quarter valued at about $30,000. FNY Investment Advisers LLC acquired a new stake in shares of Intuit in the second quarter valued at about $30,000. NewSquare Capital LLC acquired a new stake in shares of Intuit in the second quarter valued at about $42,000. Finally, Ibex Wealth Advisors acquired a new stake in shares of Intuit in the second quarter valued at about $48,000. 87.12% of the stock is owned by hedge funds and other institutional investors.

INTU opened at $258.90 on Friday. The firm has a market capitalization of $66.57 billion, a PE ratio of 46.40, a PEG ratio of 2.50 and a beta of 1.10. Intuit Inc. has a twelve month low of $182.61 and a twelve month high of $295.77. The firm’s 50-day moving average price is $268.06 and its 200 day moving average price is $264.98. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.10.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.37. The company had revenue of $994.00 million for the quarter, compared to analyst estimates of $964.02 million. Intuit had a net margin of 22.95% and a return on equity of 43.86%. Intuit’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. As a group, analysts predict that Intuit Inc. will post 6.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.82%. This is a positive change from Intuit’s previous quarterly dividend of $0.47. The ex-dividend date was Wednesday, October 9th. Intuit’s payout ratio is presently 37.99%.

Several analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Intuit from $244.00 to $260.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. ValuEngine lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. KeyCorp lifted their target price on shares of Intuit from $300.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. UBS Group lifted their target price on shares of Intuit from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Credit Suisse Group lifted their target price on shares of Intuit from $265.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $278.21.

In other Intuit news, EVP Gregory N. Johnson sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $290.74, for a total value of $726,850.00. Following the transaction, the executive vice president now directly owns 11,625 shares in the company, valued at approximately $3,379,852.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark J. Flournoy sold 6,854 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $286.33, for a total transaction of $1,962,505.82. Following the completion of the transaction, the chief accounting officer now owns 4,541 shares in the company, valued at $1,300,224.53. The disclosure for this sale can be found here. Insiders sold a total of 285,279 shares of company stock worth $68,553,645 over the last quarter. 4.60% of the stock is currently owned by company insiders.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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